MANCHESTER UNITED SET TO BE SOLD TO ARABIAN PRINCE MOHAMMED
Man Utd set for £4BILLION takeover bid with Saudi prince meeting Glazers (Mirror)
The oil rich Saudi Arabian is currently worth a staggering £850bn and is looking to gain control at Old Trafford
Crown Prince Mohammad bin Salman is preparing a sensational £4billion bid to buy Manchester United.
The oil-rich Saudi Arabian – worth a staggering £850bn – is hoping to meet United owners Joel and Avram Glazer in the Middle East in the next couple of weeks.
Avram Glazer had been due to fly to Riyadh this week where he was due to attend an International Forum but he is believed to have pulled out of the engagement.
United's co-owners know that they will have to tread carefully as the Crown Prince is embroiled in a tense diplomatic row over the death of journalist Jamal Khashoggi.
But Bin Salman will not be put off his bid to take control at Old Trafford, although the Glazers are likely to want a solution to his personal problems before entering into any sort of dialogue.
The Glazer family, who bought United in 2005, will bank a massive profit of £2.2bn if a deal is done.
Their £790 million purchase was heavily leveraged in debt – a factor that has never made them popular with the Old Trafford fans.
Despite denials that they are prepared to sell, the fact that United’s share price has rocketed over the past months tells a different story in the financial world.
At one stage the shares hit an all time high on the New York Stock Exchange of $27.65. They are currently trading at $21.20 but are expected to once again rise as interest in the club from the Middle East increases.
Forbes recently valued United at £3.2bin but Crown Prince Mohammad bin Salman - or MBS as he’s known - is ready to add £800million to that figure as he looks to gain control of Old Trafford.
His vast personal wealth allows himself the luxury of buying up the best – and he rates Manchester United as the most prestigious club in the world.
He is in the process of financing the building of three new cities in the Saudi Arabian desert and has recently splashed out £50m on a yacht.
United already have close ties with the country with Saudi Telecom being amongst their roster of sponsors and there is a huge rivalry with Abu Dhabi and Sheikh Mansour, who has transformed Manchester City with his riches.
MBS is determined to continue that into the Premier League in a head-to-head battle with City in which he is ready to invest heavily into the playing side.
The oil rich Saudi Arabian is currently worth a staggering £850bn and is looking to gain control at Old Trafford
Crown Prince Mohammad bin Salman is preparing a sensational £4billion bid to buy Manchester United.
The oil-rich Saudi Arabian – worth a staggering £850bn – is hoping to meet United owners Joel and Avram Glazer in the Middle East in the next couple of weeks.
Avram Glazer had been due to fly to Riyadh this week where he was due to attend an International Forum but he is believed to have pulled out of the engagement.
United's co-owners know that they will have to tread carefully as the Crown Prince is embroiled in a tense diplomatic row over the death of journalist Jamal Khashoggi.
But Bin Salman will not be put off his bid to take control at Old Trafford, although the Glazers are likely to want a solution to his personal problems before entering into any sort of dialogue.
The Glazer family, who bought United in 2005, will bank a massive profit of £2.2bn if a deal is done.
Their £790 million purchase was heavily leveraged in debt – a factor that has never made them popular with the Old Trafford fans.
Despite denials that they are prepared to sell, the fact that United’s share price has rocketed over the past months tells a different story in the financial world.
At one stage the shares hit an all time high on the New York Stock Exchange of $27.65. They are currently trading at $21.20 but are expected to once again rise as interest in the club from the Middle East increases.
Forbes recently valued United at £3.2bin but Crown Prince Mohammad bin Salman - or MBS as he’s known - is ready to add £800million to that figure as he looks to gain control of Old Trafford.
His vast personal wealth allows himself the luxury of buying up the best – and he rates Manchester United as the most prestigious club in the world.
He is in the process of financing the building of three new cities in the Saudi Arabian desert and has recently splashed out £50m on a yacht.
United already have close ties with the country with Saudi Telecom being amongst their roster of sponsors and there is a huge rivalry with Abu Dhabi and Sheikh Mansour, who has transformed Manchester City with his riches.
MBS is determined to continue that into the Premier League in a head-to-head battle with City in which he is ready to invest heavily into the playing side.
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